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Efectos espaciales en la formación de precios en mercados minoristas de Gas Natural Vehicular


  • John J. García


  • Carlos Mauricio Montenegro


  • Hermilson Velásquez



The gas distribution system for natural gas vehicles (NGV) in the Service Stations (EDS) in Colombia is highly concentrated, which gives the retail distributors market power. The pricing mechanism appears to approximate a Bertrand type of oligopolistic model, with a dominant firm setting the prices. The geographical location of the EDS generates strategies that influence price formation. In this research, a spatial contiguity matrix is designed, which includes socio-economic and distance characteristics, related to the EDS geographic location. We use a spatial panel model of Durbin type, which includes fundamental variables to explain the GNV price formation.

Suggested Citation

  • John J. García & Carlos Mauricio Montenegro & Hermilson Velásquez, 2015. "Efectos espaciales en la formación de precios en mercados minoristas de Gas Natural Vehicular," Documentos de Trabajo CIEF 013312, Universidad EAFIT.
  • Handle: RePEc:col:000122:013312

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    Gas Natural Vehicular; Mercado Minorista; Panel Espacial; Formación de Precios.;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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